Beck Capital Management LLC Lowers Stock Position in International Business Machines Co. (NYSE:IBM)

Beck Capital Management LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219 shares of the technology company’s stock after selling 153 shares during the quarter. Beck Capital Management LLC’s holdings in International Business Machines were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth $29,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth $36,000. Wolff Wiese Magana LLC raised its holdings in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of International Business Machines in the third quarter valued at about $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

Shares of NYSE IBM opened at $227.41 on Monday. International Business Machines Co. has a 1-year low of $156.89 and a 1-year high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The business’s 50 day moving average is $220.63 and its two-hundred day moving average is $197.69. The stock has a market capitalization of $210.27 billion, a P/E ratio of 33.10, a PEG ratio of 5.11 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.94%. International Business Machines’s payout ratio is 97.23%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IBM shares. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley decreased their price target on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $208.12.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.